U.S. listed company Fundamental Global Inc. plans to raise up to $5 billion to establish an ETH strategic reserve.

On August 8, Fundamental Global Inc., a publicly traded company in the U.S., stated in its latest S-3 filing with the SEC that it intends to periodically issue securities totaling up to $5 billion, with the specific amount, price, and terms to be determined at the time of each issuance. The company plans to use the vast majority of the net proceeds from this issuance of common stock to acquire Ether (ETH), with the remaining funds allocated for working capital needs, general corporate purposes, and operating expenses. The company indicated that it plans to hold ETH as a long-term reserve asset, aiming to accumulate and increase its overall ETH holdings, and significantly enhance the per-share common stock ETH holdings through a professional reserve strategy. The reserve strategy will focus on increasing the amount of ETH through capital raising activities and reserve activities, including staking, restaking, liquid staking, and other decentralized finance activities. ETH is expected to become a major reserve asset in the future, focusing on maximizing ETH accumulation and value appreciation while maintaining strict control and oversight of these digital assets. Fundamental Global Inc. is a holding company registered in Nevada. Currently, the company's common stock and Series A preferred stock are listed on NASDAQ with trading codes 'FGF' and 'FGFPP', respectively. The company currently operates in the following business zones: digital assets, commercial banking, reinsurance, and management services. Notably, the company's current market capitalization is only $46.02 million, and it previously announced at the end of July that it would sell 40 million shares of common stock at a price of $5 per share, raising a total of $200 million to initiate its Ethereum treasury strategy, with participants including Galaxy Digital, CEX, Hivemind Capital, Syncracy Capital, Digital Currency Group (DCG), and Kenetic.